Under the Asean Economic Community (AEC), a single regional common market of Asean countries will be created by 2015. The regional integration's objective is to create a competitive market of over 600 million people in Asean countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. There will be free flow of goods, services, investment capital and skilled labor following the liberalization. These will include tariff reductions and streamlining of certain administrative procedures. Many businesses have begun preparing themselves three years ahead of time to meet the challenges and opportunities of the Asean Economic Community (AEC).
High quality housing suitable for foreigners is becoming increasing expensive.
Rent for houses in Hanoi and Ho Chi Minh City ordinarily range from US$1,500 to US$6,000 per month, with many of the larger houses featuring gardens and swimming pools. Houses can be either furnished or unfurnished.
In addition, many serviced apartments have been built in the last few years, resulting in good quality accommodation being available from between US$500 to US$5,000 per month, depending on location and service facilities.
1. Entry visas
To visit Vietnam, nationals of most countries require a visa which must be obtained in advance from an overseas Vietnamese embassy or consulate. Visas are only issued on entry to the country in exceptional circumstances, such as natural calamity or departure from a country that does not have a Vietnamese consulate or diplomatic representative. A business or tourist visa for Vietnam can be obtained on submission of the relevant application form, photographs, passport (valid for at least six months) and an invitation letter or other documents indicating the purpose of the visit.
Background: Vietnam is a markedly Confucian society and its business practices are often more similar to those of China, Japan and Korea than to those of its Southeast Asian neighbors. The social dynamics and world-view of Vietnam’s society are reflected in the business climate including such matters as: “face,” consensus building, and the zero-sum game assumption.